“The work done to detect, prevent, audit and investigate fraud is very important,” said Michael Ferguson, CPA, CA, FCA (New Brunswick), Auditor General of Canada at the sold-out 2018 ACFE Fraud Conference Canada. “There are many opportunities for people of your skillset to prevent criminals from siphoning off money from others.”Read More
Here’s a tip to keep yourself out of prison: When you find a glitch in your employer’s check-writing software program, do not (repeat do not) write a small check to yourself. If you do, you’ll probably write another. And then another. And then several more.Read More
They are impossible to solve. They are too time consuming. The documents don’t exist. Tiffany Couch, CFE, CPA/CFF, Principal Acuity Forensics, reviewed these three myths surrounding cash skimming schemes to start off her breakout session at the 28th Annual ACFE Global Fraud Conference.
She shared four case studies to dispel these myths and illustrate a few ideas on how to effectively investigate and prove cash skimming schemes. We’ll take a deeper look at one of them, which she dubbed the “Busy Mom” scheme.Read More
The contrition of convicted fraudsters* who speak to attendees at the end of each ACFE Global Fraud Conference ranges widely. Some are desperately sorry and others are still rationalizing. Former bank executive James Scalzo, who went to prison for bank loan frauds totaling $1.4 million, seemed to want to convince attendees of the full repentance of his crimes.Read More
According to the ACFE’s 2016 Report to the Nations, the No. 1 way fraud is detected is through tips. However, the most prevalent anti-fraud control put in place by companies is external audits. About 80 percent of survey respondents cited external audits as an anti-fraud control while only 54 percent cited tips as a control. According to Tiffany Couch, CFE, CPA, CFF, Principal of Acuity Forensics, these statistics tell auditors an important story.Read More
“I went into prison thinking my life was over, but it turned out to be a lifesaving and life-changing experience,” said convicted fraudster* Nathan Mueller during the closing General Session of the 26th Annual Global Fraud Conference in Baltimore, Maryland. During his incarceration, he told attendees, he became “the person I always wanted to be.” Unfortunately, Mueller and his family had to travel a rocky and costly path so he could become a changed man.Read More
Investigators and auditors bring their own sets of tools to an investigation. In the investigator’s tool kit are interviewing skills, knowledge of the law, collecting and preserving evidence know-how, and honesty and ethics. Auditors bring different assets: integrity, independence, an attention to detail, internal controls experience and expertise in collecting hard copy evidence.Read More